U.S. stock index futures are losing a bit more ground as investors look to the continuing first-quarter earnings season for clues about the strength of businesses and the economy. Dow futures are down 53 points, while S&P 500 and Nasdaq futures are 0.1% lower ahead of the open.
In Asia, Japan -0.8%. Hong Kong -0.5%. China -0.4%. India -0.3%.
In Europe, at midday, London -0.2%. Paris +0.2%. Frankfurt +0.4%.
Futures at 6:20, Dow -0.2%. S&P -0.1%. Nasdaq -0.1%. Crude -0.1% to $63.81. Gold flat at $1277. Bitcoin +0.5% to $5241.
Ten-year Treasury Yield -3 bps to 2.56%
Source: Seeking Alpha
8:30Initial Jobless Claims
8:30Philly Fed Business Outlook
9:45PMI Composite Flash
10:30EIA Natural Gas Inventory
4:30 PMMoney Supply
4:30 PMFed Balance Sheet
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Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2897.00 (FULFILLED). Average Range for CD1 is 24.25 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 43%
As Richard Boisvert, provider of the 3 Day Taylor Cycle Metrics noted in tweet: Cycle Day 3 (Sell Short) was a (paraphrased) ‘Text Book SS Day. Markets tried but failed to penetrate (convert) the Cycle Day 2 (Sell Day) High…Then the Decline started’
CD1 Range High = 2913.00 CD1 Range Low = 2880.00 CD1 Range Avg = 24.25
Scenario 1: IF Bulls hold bid above 2900, THEN initial upside targets 2908.50 – 2910.50 3 Day Central Pivot Zone.
Scenario 2: IF Bears hold offer below 2900, THEN initial downside targets 2886.25 – 2884.00 Average Violation Zone.
Range Projections and Key Levels (ES) June 2019 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7652.50. Average Range for CD1 is 77.50 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 65%
CD1 Range High =7715.00 CD1 Range Low = 7641.00 CD1 Range Avg = 77.50
Scenario 1: IF Bulls hold bid above 7687.00, THEN initial upside targets 7701 – 7708 zone.
Scenario 2: IF Bears hold offer below 7687.00, THEN initial downside targets 7673 – 7667.25 3 Day Central Pivot Zone.
Range Projections and Key Levels (NQ) June 2019 (M) Contract
Trade Strategy: Our tactical trade strategy will simply remain unaltered…We’ll be flexible to trade both long and short side from Decision Pivot Levels. Continue to focus on Bull/Bear Stackers and Premium/Discounts. As always, remaining in alignment with dominant intra-day force increases probabilities of producing winning trades.
Stay Focused…Non-Biased…Disciplined ALWAYS USE STOPS!
“Knowing is not enough, We must APPLY. Willing is not enough, We must DO.” –Bruce Lee
*****This trade strategy report is disseminated for “education only” and should not be viewed in any way as a recommendation to buy or sell futures products.”
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